The European Commission has published a “Green Paper” on the subject of the Capital Markets Union and launched a three month consultative process to gain consensus on problems and solutions regarding the cost of capital in the EU.

Financial Institution Reporting in Colombia - IFRS adoption in Latin America is tightly connected to the use of XBRL, in order to improve the accountability and transparency of business performance not just through consistent accounting standards but via open data exchange. The Superintendencia Financiera de Colombia, or SFC, has announced from Bogota, Colombia, that its new […]

Based on stakeholder feedback XII has published the XBRL GL 2015 Framework as a Proposed Recommendation, meaning that sufficient implementation and deployment experience has been gathered and it is believed that no additional development of the specification is necessary. The changes introduced in this version mostly fix errors and inconsistencies reported from implementation projects. New or enhanced functionality […]

Those of you who work with them know that taxonomies can be large and as complex as the domains to which they are applied. Taxonomies are made up of many constituent XML files, and have historically been published alongside documentation that provides an explanation of which parts of the taxonomy do what. These “entry points” allow taxonomies to […]

In late December, following technical stakeholder feedback, EIOPA published several corrective updates to the Data Point Model and XBRL Taxonomy files to: Fix issues surrounding instance file submission; introduce Row/Column Codes in Annotated Templates; and provide information on the deactivation of specific validation rules. EIOPA is considering the publication of an additional release in February and will […]

The Ministry of Commerce and Industry (MCI) in Saudi Arabia has launched “Qawaem”, a new XBRL-based electronic reporting platform for the submission of consolidated financial statements by commercial entities in the Kingdom.